Replacing OTPs with one-touch online payment authentication
The only company in Switzerland to offer American Express, Mastercard, and Visa credit cards from a single source, Swisscard wanted to replace one-time passwords used to authenticate card-not-present transactions.
Entersekt teamed up with Netcetera to help, and in 2014, Swisscard became the first European issuer to launch the Transakt mobile app for online payment authentication.
Business challenges
- Improve cardholders’ experience of 3D Secure and reduce abandonment rates
- Meet changing digital payment security regulations
- Roll out a new solution with minimal disruption to customers
Results
- Hundreds of thousands of transactions secured since launch
- No reported fraud losses to date
- Shopping-cart abandonment significantly reduced
